Nifty View with Possible Expiry StrategyNifty formed a bearish flag on hourly timeframe
Case 1 : If it opens flat, bearish flag Breaks down, then price may test support @ 15150 / 15000
Case 2 : If gaps down, and recovers in 1st 15 min candle, giving a false breakdown of any of the mentioned support, then may go long. (shorting OTM puts is a good option / Bull Put Spread)
Special mention : Max Put Writers @ 15000, Max Call Writers @ 15500
Expiry Strategy which I am preferring : Short Iron Condor
14900-PE Buy
15050-PE Sell
15250-CE Sell
15400-CE Buy
Projected Profit : 4455 (7.6% ROI)
Capital Required approx : 58000
Breakeven points : below 14990 and above 15310
